Wednesday, Sep 22 2021 | Time 14:33 Hrs(IST)
Business Economy

WTC organises Open House Meet with exporters

Panaji, Jan 25 (UNI) The Government of India in its Foreign Trade Policy for 2015-20 has targeted to increase the share of exports from current two per cent to 3.5 per cent corresponding to USD 900 billion, Ramesh Holeyachi, deputy director general of Foreign Trade, Goa, said today.
Speaking at an interactive session held at Thivim Industrial Estate, around 18 km from here, to clear doubts among the exporters regarding the new schemes for exporters and the new tax regime of the Goods and Services Tax (GST), Mr Holeyachi said, ''...Exports is the growth engine for the country, as it increases trade, helps us in earning valuable foreign exchange and also generates employment.''
He identified that lack of awareness of the various export schemes is one of the main reasons for low exports from the country and guided the deliberations on the recently introduced REX (Registered Export System) Policy of the European Union.
Mr Holeyachi also briefed on Merchandize Export from India Scheme (MIES), the Service Export from India Scheme (SIES), EPCG Scheme for promotion of Capital Goods and the Niryat Bandhu Scheme for mentoring new and potential exporters.
The open house meet was jointly organized by the World Trade Centre, Goa, Director General of Foreign Trade, Thivim Industrial Estate Industries Association, Department of Customs and World Trade Centre, Mumbai.
Gaurav Jain, assistant commissioner, Customs & Central Excise, said GST would help in ease of doing business, as all old manual systems would be replaced by online processes.
GST would bring in better tax compliance and was crucial for success of ‘Make in India’ the flagship programme of the Government of India, he added.
Earlier, in his Welcome address A O Kuruvila, advisor, World Trade Centre, Mumbai, highlighted that Brexit had thrown a big challenge for Indian exports and the Director General of Foreign Trade and the Department of Customs were two major agencies which were facilitating Indian businesses to go global. ''India now ranks 130 out of 199 countries in the ease of doing business,'' he added.
S P Vernekar, president of Thivim Industrial Estate Industries Association, and Gurudatta Bhakta, president of The Goa Cashew Feni Distillers and Bottlers Association, were present on this occasion.
Cyril Desouza, assistant director, Trade Promotion, World Trade Centre, Goa conducted the event and proposed the vote of thanks.
More News
Zee Entertainment stocks soar post merger deal with Sony Pictures

Zee Entertainment stocks soar post merger deal with Sony Pictures

22 Sep 2021 | 1:54 PM

Mumbai, Sep 22 (UNI) Zee Entertainment stocks soared on merger deal with Sony Pictures on Wednesday.

see more..

Mrs Anandi Ramalingam, BEL CMD, win PRCI’s ‘Chanakya Award’ for Good Governance

22 Sep 2021 | 1:53 PM

Bengaluru, Sep 22 (UNI) Mrs Anandi Ramalingam, Chairman & Managing Director of Navratna Defence PSU Bharat Electronics Limited (BEL), has received the Public Relations Council of India (PRCI)’s ‘Chanakya Award’ for Good Governance. BEL received as many as 15 awards instituted by the PRCI for excellence in Communication, Media Relations, Branding, Human Resource Management during COVID-19, etc, at the 11th PRCI Excellence Awards 2021, held in Goa .

see more..

Trejhara wins order from one of the largest logistics firms worth USD3 5 mn

22 Sep 2021 | 1:52 PM

Mumbai, Sep 22 (UNI) Trejhara on Wednesday said has win a order from one of the largest logistics firms, having global presence, for the delivery and implementation of the product upgrade and technology support in relation thereto.

see more..

Ramkrishna Forgings bags order worth Rs 650 million in Mining & Earthmoving segment

22 Sep 2021 | 1:51 PM

Mumbai, Sep 22 (UNI) Ramkrishna Forgings one of the leading suppliers of rolled, forged and machined products has won a non-auto segment order worth Rs 650 million for supply of mining and earthmoving components from an Indian arm of Hitachi.

see more..

Hyundai Electronics launches 4K Ultra HD Smart LED TVs powered by webOS TV

22 Sep 2021 | 1:51 PM

Mumbai, Sep 22 (UNI) Hyundai Electronics, one of the fastest growing Indian consumer durables brands, on Wednesday introduced its new range of 4K Ultra HD Smart LED TVs powered by webOS TV with ThinQ AI voice recognition and Magic Remote. Backed by ARM CA55 1.1 GHz Quad core processor, the 4K UHD Smart LED TVs are four times faster than conventional TVs.

see more..